The last US midterm elections. Georgia’s Senate race is too close to call

The last US midterm elections. Georgia’s Senate race is too close to call

As we previously reported, 32% of voters in the US midterm elections say inflation was the most important thing to them when they went to the polls today. Meanwhile, six in 10 voters say their bottom line has been affected by rising gasoline prices.

Although these are early exit polls, it’s clear that money matters to Americans, and Democrats are likely to blame.

It wasn’t meant to be. Since 2021, when US President Joe Biden took office, the economy has, by most standard measures, been on a roll, growing by almost 6% last year as it recovered from the Covid-19 pandemic.

Even in the most recent quarter, the country posted a respectable annual growth rate of 2.6%, while the unemployment rate is below 4%, the lowest rate seen in a decade.

But all that can seem pretty abstract compared to the day-to-day wear and tear of rising prices. It’s estimated that the average family is paying roughly $460 more per month to afford the same things as last year.

As the central bank raises borrowing costs to deal with inflation, it has brought about other unwanted changes. a 20% drop in the stock market, home to many people’s retirement savings, and the highest mortgage rates in 20 years.

This is the kind of economic data that hits home and causes a drop in confidence. a little if you’re a Democrat and a lot if you’re a Republican. It is enough to decide the elections.

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